International Boat Industry – June-July 2019

ibinews.com International Boat Industry | JUNE–JULY 2019 49

Refit yard capacity growing

to meet rising demand

T

he global superyacht f leet for vessels
over 24m (79ft) is estimated to be
in excess of 7,000, while those over
30m (99ft) is in excess of 5,000. Superyachts
are getting larger in both length and gross
tonnage, meaning more vessels need to
meet the rules of classification societies
and f lag registration authorities. More
annual inspections and five-year surveys
have to be carried out to keep yachts in
good condition.
For those superyachts that charter
(around half the total fleet), a refit is a
necessity every few years. The bottom line
is that more and more yachts need to spend
time, probably every year, in a shipyard
having work carried out.
Superyachts are also becoming more
sophisticated in terms of design and the
amount of technology on-board, resulting
in shipyards having to offer a wider range of
services for contracted jobs.
Consequently, demand for shipyard
services is on the rise. Major investments are
being made worldwide that not only boost
capacity, but allow repair and refit companies
to cater for a wide spread of yachts. These
investments are being made by superyacht
builders entering or expanding into the
refit market, existing refit businesses, and
newcomers that see an opportunity.
There are estimated to be well over 300
companies that participate in superyacht
refit and repair. As superyachts are
extending their cruising ranges, especially
into the Asia-Pacific region, the need for
support facilities has widened and both
existing and new companies are offering
facilities that allow superyachts to be more
adventurous in their cruising activities,
as reflected by the growing number of
expedition and explorer superyachts.

Quantifying the market is not easy. At

the recent ASMEX conference in Australia,

the Superyacht Group presented delegates

with some statistics that it had produced.

These suggest that nearly 850 superyachts

over 30m will need five-year surveys in 2019

and that 1,430 yachts are on a three-year

maintenance cycle this year.

Forecasting the future of these cycles,

the statistics suggest those on the three-year

maintenance cycle will rise over the next five

years to 1,562 in 2021, 1,644 in 2022 and 1,599

in 2023. For those on the five-year cycle, this

will jump to 915 by 2021, 932 in 2022 and 988

in 2023. This gives some feel of the volume

of work anticipated over the coming years.

NORTHERN EUROPE

The vast majority of refit work is undertaken

in Europe, with countries such as France,

Spain, the Netherlands and Germany being

the leading players. In northern Europe,

several of the leading yacht-builders such as

Lürssen, Abeking & Rasmussen, Feadship,

Amels and Royal Huisman feature among

the largest refit businesses.

GERMANY

In Germany, the Lürssen group of shipyards

accounts for around three quarters of the

superyacht refit work performed in the

country. This includes a sizeable portion

by Blohm+Voss, which for the past few

years has been part of the Lürssen Group.

Research on the German market by the

Superyacht Group points to the average

length of superyacht refitted by Lürssen as

76m and more than 2,600 gross tonnes.

The combined facility resource of the

Lürssen group yards includes dry docks of

351m and 220m, covered sheds up to 170m,

and lifts of 2,500 and 4,500 tonnes. The

maximum size of yacht it can handle is over

200m.

Markets & Regions

REPORT | SUPERYACHT SECTOR – REFIT

AS THE GLOBAL SUPERYACHT FLEET GROWS, SO DOES THE NEED FOR MORE REFIT,

REPAIR AND MAINTENANCE CAPACITY. IN RESPONSE TO THIS RISING DEMAND,

ESTABLISHED REFIT YARDS AND MAJOR YACHT-BUILDERS ARE INVESTING IN NEW

FACILITIES. A NUMBER OF NEW PLAYERS HAVE ENTERED THE MARKET TOO

WORDS: DAVID ROBINSON

 The MB92 refit

facility in Barcelona